XAU/USD-Overall analysis

2020-02-08 19:37:11

Hello everybody,I want to share this with you!

-On XAU/USD we can see that on Monday price reached ascending channel's resistance line and then price went bearish until Wednesday and then price went in bullish direction.
-We can see that price broke yellow support/resistance line and then we had one retest and price continued in bullish direction.
-On lower time frames we can see more retests and rejections so that means that support is solid.
-For further decisions I recommend to wait for more conformation on higher time frames and wait for some news about USD and XAU.
-WHAT DO YOU THINK ABOUT THIS SETUP? Please let me know in comment section!

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-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.